The unconventional monetary policy actions of the Federal Reserve during the recent Global Financial Crisis often involve implicit subsidies to banks. This paper offers a theory of the non-neutrality of money associated with capital injection into banks via nominal transfers, in an environment...

The unconventional monetary policy actions of the Federal Reserve during the recent financial crisis often involve recapitalization of banks. This paper offers a theory of the non-neutrality of money for policy actions taking the form of injecting capital into banks via nominal transfers, in an...

The author researches a singular monetary situation connected with the common issue of commemorative coin age by two states: Ireland, an EU member state that belongs to the Euro-system, and Croatia, an EU membership candidate. Although they belong to two different monetary systems, the two...